Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.
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Question 1: The development of tourism in Nigeria will enhance?
Options:
A) agriculture
B) revenue generation
C) export
D) labour mobility
Show Answer
The correct answer is B .
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Question 2: The payment made by a speculator to the buyer when he is unable to deliver stocks on the agreed date is
Options:
A) arbitage
B) franco
C) contango
D) backwardation
Show Answer
The correct answer is D .
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Question 3: The Lake Chad Basin Commission was formed in?
Options:
A) 1974
B) 1984
C) 1954
D) 1964
Show Answer
The correct answer is D .
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Question 4: A major factor that affects business operations is
Options:
A) technology
B) supply
C) product
D) rivalry
Show Answer
The correct answer is A .
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Question 5:
The agency that currently oversees the privatization and commercialization process in Nigeria is the
Options:
A) Securities and Exchange Commission
B) Technical Committee on privatization and commercialization
C) Nigeria Stock Exchange
D) Bureau of Republic Enterprises
Show Answer
The correct answer is D .
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Question 6: The development of commercial activities in Nigeria was facilitated largely by
Options:
A) a good transport system
B) the indigenization decree
C) a convenient medium of exchange
D) a high level of production
Show Answer
The correct answer is C .
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Question 7: The program that makes up the operating system in a computer is?
Options:
A) microprogram
B) system flowchart
C) system software
D) syntax
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The correct answer is C .
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Question 8: The comprehensive import supervision scheme was set up by the federal government in order to
Options:
A) reverse Nigeria's unfavourable balance of trade
B) promote fair trade between Nigeria and other countries
C) counteract all fraudulent business deals of Nigeria with other nationals
D) ensue that import into Nigeria are of the correct quality, value and quantity
Show Answer
The correct answer is D .
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Question 9: The three components of a country's balance of payments are?
Options:
A) current account, capital account and monetary movement account
B) capital account, trade account and business record
C) sales account, profit and loss account and capital account
D) monetary movement account, trade account and sales ledger
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The correct answer is A .
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Question 10:
Use the information below to answer questions 13 and 14
| # |
| Sales | 50,000.00 |
| Debtors | 10,000.00 |
| Cash in hand | 5,000.00 |
| Opening stock | 30,000.00 |
| Creditors | 8,000.00 |
| Purchases | 16,000.00 |
| Overdraft | 12,000.00 |
| Closing stock | 10,000.00 |
Options:
A) #35,000.00
B) #20,000.00
C) #15,000.00
D) #14,000.00
Show Answer
The correct answer is D .